USD/ILS may fall to 3.4632 - 3.5132

Our pivot point stands at 3.7022.

Our preference

The downside prevails as long as 3.7022 is resistance.

Alternative scenario

Above 3.7022, look for 3.7868 and 3.8371.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 3.6799 and 3.6920).

Supports and resistances

3.8371 **

3.7868 *

3.7022 **

3.6690

3.6233 last

3.5132

3.4632 **

3.4132 *

3.3631 **

Number of asterisks represents the strength of support and resistance levels.